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944 Columbus Ave, New York,...

Edward Ostad & Pratik Shah Acquires Mixed Use Property On Columbus Avenue In Manhattan For $4.2M
SOLDMixed-use

Edward Ostad & Pratik Shah Acquires Mixed Use Property On Columbus Avenue In Manhattan For $4.2M

944 Columbus Ave, New York, NY 10025, USA

Building Size

8,285 SF

Asset Type

Mixed-use

Closing

Jan 11, 2018

AI

The mixed-use property located at 944 Columbus Avenue in Manhattan has been sold for a price of $4,200,000. The property spans a total area of 8,285 square feet and was sold at a price per square foot of $507. The transaction was completed on January 12, 2018.

Summary of transaction details

  • Property Type: Mixed Use
  • Transaction Amount: $4,200,000
  • Address: 944 Columbus Avenue
  • City: New York
  • Market: Manhattan

The seller of the property was Dengler Family’s Black Seal Realty, while the buyer was Edward Ostad & Pratik Shah. Cushman and Wakefield’s Guthrie Garvin and Hall Oster represented the parties involved in this transaction.

Players

Guthrie Garvin

JLL

Broker

$991.4M

vol

42 deals

Broker

Edward Ostad

Buyer

$620.3M

vol

7 deals

Buyer

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93